Revenge spending post-pandemic continues to be an impactful force within the U.S. economy. Not only have we seen household consumer debt top $4.7Trillion by the end of Q3’2022 (an all-time high), but the personal saving rate has continued to plummet. Over the past 10 years, the average U.S. personal saving rate was over 8% (typically hanging well-above 6%). Lately, we’ve seen a small bounce off recent lows to around 3.4%. The combination of accumulating record debt plus continued strong spending warrants close monitoring for indications of future economic malaise.